Caribbean Airlines cuts staff, fleet as it restructures for a post-Covid world

Caribbean Airlines plans to shed 25% of its staff or 450 employees and store aircraft as it pursues a restructuring strategy in the wake of the devastating coronavirus crisis. The airline, headquartered in Port of Spain, Trinidad and Tobago, says on 21 June that it “will need to adjust its operations to cater for a reduced scale of demand after the opening of the borders”. ”Put simply, passenger demand in the short to medium term is not going to recover sufficiently to support the existing company structure,” the airline says. “As a consequence, Caribbean Airlines is required to take further steps to ensure it has a sustainable business model for 2021 and beyond. These steps include major cost reductions in all areas of the airline’s operations, specifically its human resource complement, its fleet and other assets, and its route network.” The airline currently has six ATR 72-600 turboprops in operation, as well as seven Boeing 737-800 aircraft. It has five Boeing 73 Max on order. The carrier does not say how many aircraft it will take out of its operating fleet as part of the restructuring strategy.<br/>